• By The Financial District

ASIAN STOCKS INCH UP AS U.S. FUTURES GO STEADY

Most Asian stocks climbed Thursday, June 3, 2021, and US equity contracts were steady, weathering the latest twist in US-China ties as well as Federal Reserve comments on a potential reduction in stimulus, Andreea Papuc reported for Bloomberg News.

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Optimism over a vaccine rollout boosted Japanese equities, while China edged up and Hong Kong retreated. S&P 500 and Nasdaq 100 futures were marginally in the green after the gauges posted a modest increase. Ten-year US Treasury yields held below 1.60% and a dollar gauge fluctuated.


Traders took in their stride comments from Philadelphia Fed President Patrick Harker, who said the US central bank should begin discussing the time frame for paring back its bond-buying program. Friday’s US jobs report may offer clues on the economic rebound from the pandemic and inflation risks.


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Chinese shares shrugged off President Joe Biden’s plans to amend a U.S. ban on investments in companies linked to China’s military, which may expand scrutiny to a wider set of enterprises.


S&P 500 futures rose 0.1% as of 12:51 p.m. in Tokyo. The index rose 0.1%. Nasdaq 100 contracts added 0.1%. The index climbed 0.2%. Japan’s Topix index increased 0.7%. Australia’s S&P/ASX 200 index was up 0.4%.


South Korea’s Kospi index rose 0.9%. Hong Kong’s Hang Seng index shed 0.4%. China’s Shanghai Composite gauge rose 0.4%. The Bloomberg Dollar Spot Index was little changed.


The euro was at $1.2207. The Japanese yen was at 109.68 per dollar. The offshore yuan was at 6.3842 per dollar. The yield on 10-year Treasuries held at 1.59%. Australia’s 10-year bond yield fell three basis points to 1.66%.


West Texas Intermediate crude was at $69.24 a barrel, up 0.6%. Gold was at $1,904.82 an ounce, down 0.2%, Jennifer Bissell-Linsk reported for Bloomberg News



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Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.